Renew Your Expat Mortgage
Renew Your Expat Mortgage and read our Expat Mortgage Reviews.
Expats need to get the message that re-mortgaging is where significant savings can be made. Especially with rates as they are now.
If you are an expat on a standard rate mortgage, would you like to save upwards of £1500 per year? These savings are of course dependent on the size of mortgage. As such surely it is worth checking.
Research shows that over 50% of all expat borrowers who move to their lender’s standard variable rate after their initial deal terminates do not re-mortgage or product transfer for 3-5 years.
Also, the report shows a quarter of re-mortgagors said they find the whole re-mortgage process difficult, with 47% saying they didn’t have time to shop around.
Re Mortgage Warning.
A re-mortgage is not always suitable for everybody as your existing deal may well have penalties attached to change within the discounted period. It is always recommended to seek professional help as to what is best advice to suit your needs.
Expats are using specialised independent brokers for speed and efficiency.
About five million UK nationals live overseas. Therefore many are keen to hold on to a property in the UK, or to invest in a buy-to-let. As for a buy-to-let mortgage options are quite restricted. Also in most cases you will need to get a specialist landlord mortgage.
It is possible to secure a standard residential home loan as an expat. But it is tricky to arrange, lenders will want to see evidence that close family are living in the house. Since most expats work abroad and cannot live in two places, for the majority, a buy-to-let is the more appropriate solution.
It can be a difficult process to secure a mortgage when clients are overseas. Especially with the time difference and tighter lending criteria.
Using a specialist Expat independent mortgage broker will certainly make the process far less stressful and time consuming.
Can we help?
If you are looking to renew your expat mortgage or re-mortgage, please do make contact and one of our independent advisers will be happy to assist.
